Topgolf Callaway Brands (NYSE:MODG) Sets New 1-Year Low – Time to Sell?

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.90 and last traded at $7.94, with a volume of 194778 shares. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

Several analysts recently commented on MODG shares. Bank of America lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. The Goldman Sachs Group lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Down 1.1 %

The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -99.00, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70. The business has a 50-day moving average price of $9.26 and a 200-day moving average price of $11.80.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently bought and sold shares of MODG. Leonard Green & Partners L.P. acquired a new stake in shares of Topgolf Callaway Brands during the second quarter valued at approximately $97,173,000. Charles Schwab Investment Management Inc. grew its position in Topgolf Callaway Brands by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after purchasing an additional 148,451 shares in the last quarter. PDT Partners LLC acquired a new stake in Topgolf Callaway Brands during the 3rd quarter valued at $1,934,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Topgolf Callaway Brands in the third quarter worth $3,396,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.